2008-09-07

Opsa ... Fannie and Freddie nationalization

Officials announce takeover of mortgage giants

Government assumes control over mortgage giants Fannie Mae and Freddie Mac

WASHINGTON (AP) -- The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.

Officials announced that the executives and board of directors of both institutions had been replaced. Herb Allison, a former vice chairman of Merrill Lynch, was selected to head Fannie Mae, and David Moffett, a former vice chairman of US Bancorp, was picked to head Freddie Mac.

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My name is Nikolay Mihaylov, and these are my finance notes.
I am *NOT* so experienced in this area, but may be is good for you to see how I am thinking :)
Unlike most other blogs, here, everything is real transaction, unless is theoretical post, which is used for finding entering price.
So enjoy it.